U.S. Military Spending Dwarfs Rest of World

The U.S. spent more on defense in 2012 than the countries with the next 10 highest budgets combined.CNBC

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Budget cuts and troop reductions are on tap for the U.S. military — if Congress gives its approval. But the U.S. will still spend hundreds of billions of dollars on its armed forces per year, even with the proposed cutbacks.

The $682 billion spent by the U.S. in 2012, according to the Office of Management and Budget, was more than the combined military spending of China, Russia, the United Kingdom, Japan, France, Saudi Arabia, India, Germany, Italy and Brazil — which spent $652 billion, according to the SIPRI Military Expenditure Database.

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